Payroll services specialist Entertainment Partners has signed a definitive agreement to buy technology solutions concern Ease Entertainment Services for an undisclosed price.
The acquisition is expected to close in 30 days. Entertainment Partners has about 900 employees, while 7-year-old Ease employs about 130.
“The combination of our two companies represents a strong win for our customers — and the entire entertainment industry,” said Mark Goldstein, president and CEO of Entertainment Partners. “This transaction combines the two companies most focused on innovating in the industry to improve and simplify the vital processes that enable the production business. Opportunities like this to reimagine a business and innovate an industry come along very rarely.”
Goldstein will continue as president and CEO of the combined company. Ease CEO Mike Rose will assume the role as president of Movie Magic Scenechronize Technologies as a newly created division and will report to Goldstein.
“This is an exciting day for Ease and the entertainment industry,” Rose said. “EP provides a huge platform for our solutions, as well as the experience and resources to extend our offerings to a broader customer base.”
The deal comes two months after rival payroll services specialist Cast & Crew Entertainment Services signed a definitive agreement to be acquired by technology investing firm Silver Lake for $700 million from ZM Capital.